Australia's Helloworld Travel falls on $48 mln deal for travel firm

Helloworld Travel

22/06/2023 01:54

** Shares of Helloworld Travel Ltd  HLO.AX  fall as much as
2.7% to A$2.57, their lowest level since May 29
    ** HLO says it will acquire Express Travel Group for A$70
mln ($47.59 mln)
    ** Consideration for acquisition will be a mixture of shares
and cash, with cash component to be fully funded from HLO's cash
reserves - HLO
    ** Stock up 97% this year, as of last close
    
     ($1 = 1.4710 Australian dollars)
    

 (Reporting by Harish Sridharan in Bengaluru)
 ((harish.sridharan@thomsonreuters.com))